Higher land prices, a big worry for Realtors in Vijaywada

Chigurupati Sudhakar, President Credai Vijaywada

Interviewer : Sandeep Pattnaik

Chigurupati Sudhakar, President Credai Vijaywada

Government’s proposed EWS housing scheme within the city limits will be difficult
to take shape in letter and spirit unless affordable and cheaper land is provided
to the developers here, says Chigurupati Sudhakar, President Credai Vijaywada.
Besides he discussed certain issues pertaining the realtors in the city.Excerpts of his Interview with Sandeep Pattnaik of Gharabari.com1. A proposal has been mooted to provide housing facility to the economically-weaker
sections at affordable prices within the city (Vijaywada) limits. Please tell us
something about that.

A. Government of India has prescribed a minimum 20% area within the total affordable
housing limit for economically weaker sections [EWS] housing. But the concern here
is that, the land prices are already elevated here, thanks to the announcement of
the Capital Region in Andhra Pradesh by the State Government, which makes the proposal
unviable.2. Which are the big realty projects in the pipeline in Vijaywada? What is the
(appx.) quantum of Investments to be made?

A. There are nearly 150-200 upcoming realty ventures in the city and its periphery
areas entailing a proposed investment of around 1000-1500 crore, out of which majority
are in the residential category. Developers within the city and also from outside
cities like Hyderabad, Chennai and Bengaluru are likely to invest within Vijaywada.3. Vijaywada is one of the likely destinations to be included in the Union Government’s
smart city list? What are the infrastructural developments need to be undertaken
to meet the smart city criteria?

A. Vijaywada is basically witnessing overcrowded road. There needs to be developed
2 to 3 outer ring roads to have a direct connectivity to the proposed capital region.
Besides, developing Metro Rail, International Airport, frontline educational institutions
like AIIMS, IIT & IIM etc are the other requirements.

4. Which are the basic issues before the realtors in Vijaywada?

A. Exorbitant Land cost has made the realtors all most vulnerable and they are quite
apprehensive in launching new projects. Also since around 30,000 acres has been
acquired for the proposed CR through land pooling method, Govt. should incentivize
private developers to participate in the process, which could generate more revenue
for them.5. Recently, AP Chief Minister N Chandrababu Naidu has unveiled a 'Smart
Village' plan. Please tell us something about that.

A. It is a very good concept. Provision has been made to develop every ward (55
wards in Vijaywada) in terms of housing needs, drainage system, sanitation and road
infrastructure etc, with a budgeted investments of around Rs 1-1.5 crore per ward
and local developers like GMR, Navayuga etc are likely to participate in the process.